French dairy processor Groupe Bel has reported an increase in first-quarter sales as volumes increased in its core brands.
The group said on Wednesday (11 May) that sales in the quarter ended 31 March were up 7.8% to reach EUR594m (US$837.7m).
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The increase came despite a 1.2% negative impact from the disposal of Czech Republic-based Jaromericka in November.
Sales growth was driven largely by Bel’s operations in the Americas, Asia-Pacific and western Europe.
Revenues in western Europe, which accounted for 60% of sales grew 8.5%. Sales in the Americas and Asia-Pacific – regions that Bel’s groups together – were up 31.8%
The Laughing Cow cheese maker said it expects market conditions to “remain challenging” in 2011, with “inflated raw material prices, high foreign exchange volatility and political uncertainty in some world regions”.
However, it remains confident of its growth prospects thanks to the “broad geographical spread of its activities and its proven business model, which is underpinned by strong brands and products in tune with the group’s various markets”.
